Global Travel and Business Bags Market 2019-2023
- Published: Mar 2019
- Pages: 143
- SKU: IRTNTR31061
The 2021-2025 version of this report is just being published. Buy it now and get up to $1000 worth of free customization!
The global travel and business bags market size will grow by USD 9.28 billion during 2019-2023. The report offers an analysis of the market based on distribution channel (offline and online) and product (travel bags and business bags). The travel bags market research report further presents an in-depth insight on the growth prospects of the market across APAC, Europe, MEA, North America, and South America. The report analyzes the market’s competitive landscape and offers information on several companies including CAPRI HOLDINGS LIMITED, Kering SA, LVMH, Samsonite International S.A., Tapestry, Inc, and VF Corporation.
Below are some of the key findings from the travel and business bags market analysis report
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from the report.
Global travel and business bags industry overview
The growing demand for lightweight travel bags is one of the critical reasons that will drive business and travel bags market growth. Lightweight bags are gaining prominence among travelers due to the strict enforcement of weight regulations by the airline industry. Vendors are addressing the growing demand for lightweight and ultra-light travel bags by using hard-sided materials and high-end technologies in manufacturing these bags. Vendors are also launching lightweight luggage bags with comfortable carry-and-wheel handles, lock for secure travel, integrated ID tag, and other features. As the adoption of these bags enables travelers to carry more luggage and prevent a sharp rise in fares on luggage, the preference for lightweight bags will further increase in the coming years.
Vendors are also focusing on using eco-friendly materials in manufacturing lightweight luggage bags. The procurement of materials such as leather leads to hunting concerns and improper disposal of tanning agents. This is shifting the preference of manufacturers and consumers to eco-friendly materials like organic leather products for manufacturing luxury organic leather business bags and lightweight leather bags. These leather business bags are tanned in certified organic tanneries and do not cause a negative impact on the environment. With the awareness of the need to reduce non-degradable residues, the demand for bags made from eco-friendly materials will increase. These factors will drive travel and business bags market growth at a CAGR of almost 7% during the forecast period.
Top companies covered in the travel and business bags market research report
The travel and business bags market is highly fragmented. By offering a complete analysis of the market’s competitive landscape and with information on the products offered by business and travel bag companies, the industry analysis report will help clients identify new growth opportunities and design innovative strategies to improve their market share.
The report offers a complete analysis of various companies including:
- CAPRI HOLDINGS LIMITED
- Kering SA
- Samsonite International S.A.
- Tapestry, Inc
- VF Corporation
Travel and business bags market segmentation based on geographic regions
- North America
- South America
Europe will account for the largest travel and business bags market share throughout the forecast period. The huge availability of personal goods such as travel and business bags and the presence of various well-known brands are major factors for the high growth of the travel bags market in the region. In addition, the availability of a wide variety of designs in the travel and business bags market and related accessories will also contribute to the growth of the market.
Travel and business bags market segmentation based on distribution channel
The offline distribution channel will account for the highest travel and business bags market share. The introduction of new business and retail strategies including better pricing strategies and wider assortments and marketing campaigns that allow companies to tap the target customers will drive the sale of travel and business bags in the distribution channel.
Key highlights of the global travel and business bags market for the forecast years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the travel and business bags market during the next five years
- Precise estimation of the global travel bags market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the industry across various geographies such as APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on factors that will challenge the growth of the companies
We can help! Our analysts can customize the market research report to meet your requirements. Get in touch
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Get your FREE sample now!
Get the report (PDF) sent to your email within minutes.
Subscribe & Save
Get lifetime access to our
Did you know?
Did you know?
Did you know?
Want to customize this report?
This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.